From my tenured stocks. EAGL is a good candidate for a BO in this down market. Just something to watch as we have had no buys in this thread yet.
The Float on IDSA is only 2M. The minimum is 5M I use the following to check float: http://finance.yahoo.com/q/ks?s=idsa
7 1 0 GDP JUPM CNCT FAF MRVL DHI UPL TASR RRGB CMTL GILD ARO ALDN COX SNDK SNDK URBN FMD DHI STN DRL CNCT JOSB YHOO FMD CRDN ANT ANT JBHT BKS Hotlist: TASR ALDN CRDN Watch List: TASR NVEC LWAY ANIK SWIR LSCP ALDN JUPM EVCI HANS CRDN ENWV LIFC HLEX Of the above stocks, NVEC & LWAY fall outside the normal float parameters for 9-29-04, and therefore, should be eliminated from consideration. - Spydertrader
TASR and JUPM were inadvertently added to my Watch List. They should be removed as these two stocks are NOT currently in Dry Up. I apologize for any confusion. - Spydertrader
Thanks for your contribution Gallas2. I appreciate someone with your experience sharing their methods with the group. I took the liberty of correcting the following two criteria: Avg. Daily Vol. Last Year <= 400 (changed to 400,000) Avg. Daily Vol. Last Year >= 20 (changed to 20,000) Running the screen with the corrected criteria creates an identical list to the one submitted by Gallas2. Attached, please find the Gallas2.zip file. Inside is the Gallas2.IFF file containing the criteria Gallas2 listed for his Jack Hershey Screen at the MSN Deluxe Screener. After unzipping the file, simply upload the Gallas2.IFF file directly to the MSN Deluxe Screener. Make sure to upgrade to the DELUXE Screener from the NORMAL Screener before attempting to upload. The attached file had to be zipped as the MSN .IFF extensions are not currently approved for upload to ET. - Spydertrader
Great thread - I hope you keep it up! Any chance of you posting the DU volume you are watching (for your daily Watch List) so we can compare it to what we are doing, especially since there are several different ways to claculate it?
The discussion regarding an appropriate and quantifiable method to correctly obtain DU Volume began long ago (probably before Jack began posting on Usenet) and continues even today. I use several methods currently in an attempt to determine a 'best' method. To date, no ONE method outperforms another. Methods for my dry up volume calculations I currently use: 1. A five day average volume before price breakout. 2. A ten day average volume before price breakout. 3. A twenty day average volume before price breakout. 4. Last low volume before price breakout. The 20 day average closely approximates the chartscript at Wealth- lab Other methods that have been suggested: 1. 30% of 65 day average volume - suggested by dkm 2. 'eyeball' lowest volume - suggested by Jack in his teachings 3. average lowest volume in six months Jack advised against using the 'average lowest volume in six months' method in several of his posts. Equations used by Jack in TC2000: 3 progressive stages of dry up: ((AVGV30 - 3 * AVGV5) > 0) AND (AVGV5 > 0) Dry Up 1 (AVGV30 > 2 * AVGV3.6 AND AVGV30 > 2 * AVGV3) AND (AVGV3.3 - AVGV3) > 0 Dry Up 2 (AVGV30 > 2 * AVGV6.3 AND AVGV30 > 2 * AVGV3) AND (AVGV6.3 - AVGV3) > 0 Dry Up 3 FRV (AVGV5 - AVGV30) > 1000 AND (MAXC126 - MINC126) > 0.5 * MINC126 (AVGV5 - AVGV30) > 1000 Exit conditions: Gainers Over Yesterday Between 5% and 10% Inc. ((C - C1) / C1) * 100 > 5 AND ((C - C1) / C1) * 100 < 10 Gainers Over Yesterday Greater than 10% ((C - C1) / C1) * 100 > 10 Stage 1 or Stage 3 (H30 < 1.1 * L5) AND (H5 < 1.1 * L30) Stage 2 or Stage 4 ((MAXC126 - MINC126) / MINC126) * 100 Gappers L > H1 OR H < L1 AND V > 1000 OR (C * V) > 2500 I think dkm sums it up best in this quote from another thread: Rather than providing dry up values and posting them to the journal, I hope individuals will test out various methods for calculating dry up volume - either any of those listed, or other methods obtained from another source. The methods I use do not currently signal a trade every day. Perhaps, someone will determine a BETTER method for dry up calculation that does signal a trade each day. I hope you find the above information useful. - Spydertrader